Looking toward 2012, the company anticipates non-GAAP earnings in the range of $6.90 to $7.30 a share, which is below analysts’ consensus of $7.43.

Its shares were down more than 4% to $81.45 on Friday.

The Cleveland-based maker of motion and control technologies reported net income of $242.3 million, or $1.56 a share, up 4.5% compared with $231.8 million, or $1.39, in the same period last year.

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The results were below average analyst estimates from a Thomson Reuters poll of $1.62 a share. Revenue for the three months ended Dec. 31 was $3.1 billion, up 8.4% from $2.9 billion a year ago, matching the Street’s view.

The gains were led in the industrial North America segment, which increased 13.2% to $1.2 billion, followed by growth of 6.2% and 8% in its industrial international and aerospace segments, respectively.